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New investments into hedge funds in February 2016 were a trickle at USD4.4 billion with performance losses of USD24.5 billion dropping overall industry AUM to USD2.94 trillion, according to the February 2016 eVestment Hedge Fund Asset Flows Report. February has historically seen elevated flows into the industry. Over the prior six Februaries, from 2010 to 2015, investors added an average of USD22.6 billion in net new capital to hedge funds, according to eVestment data. The dramatically reduced new investment into hedge funds this February reflects investor dissatisfaction with 2015 returns.   While overall asset flows are a challenge for the
Broadridge Financial Solutions has enhanced its Managed Data Service offering with the addition of several professionals with extensive experience in data management software. Robert Revesz has been named Senior Director, with a focus on reference data client services and implementations. He joins Nathan Wolaver, Michael Sunwoo and Tim Versteeg, all of whom have joined the firm recently from Asset Control and are focused on strengthening the Managed Data Service solution. Revesz will be instrumental in helping to deliver the enterprise benefits of a managed reference data service across Broadridge’s global client base. He is based in New York.   “Banks
The total value of funds business in Guernsey grew by GBP2.7 billion (1.2 per cent) during the fourth quarter of 2015. Figures from the Guernsey Financial Services Commission (GFSC) show that, at the end of December 2015, the net asset value of all funds under management and administration in the Island stood at GBP227.6 billion – an increase of GBP8.2 billion (3.7 per cent) on the same point in 2014. Guernsey closed-ended funds increased by GBP2.2 billion (1.6 per cent) to GBP140.6 billion during the fourth quarter, while Guernsey open-ended funds decreased in value by GBP0.7 billion (-1 per cent)
Cowen Group is to acquire CRT Capital Group’s credit products, credit research, special situations and emerging markets units. The acquired business will be named Cowen Credit Research and Trading and will focus on distressed debt, special situations and emerging markets.  CRT will use the proceeds from the transaction to invest further in its Equities, Banking and Rates businesses. CRT’s Credit Products unit encompasses the sales and trading of distressed convertibles, high yield securities, distressed debt, private placements and trade claims. The Credit Research unit is focused on distressed and special situations coverage and cross-capital structure. The Special Situations group includes
Violin Memory, provider of all-flash storage platform solutions for primary storage and active workloads, and Stream Financial have launched FlashSync, a Data Portal Appliance that aims to provide ultra-high performance access to and interrogation of multiple data sources. FlashSync has been designed to address a range of use cases in Financial Markets including intra-day risk management; BCBS239 reporting; internal & external stress testing; VaR aggregation; contingent liability modelling; and crisis reporting.   The solution comprises Stream Financial’s Data Fusion federated query software running on high performance servers, accelerated with Violin Memory’s enterprise Flash Storage Platform solutions.   FlashSync is unique
Liquidnet, the global institutional trading network’ buy-side community of more than 800 asset managers can now trade Taiwan-listed securities directly and anonymously with one another through its platform.  The addition of the Taiwanese market continues Liquidnet’s expansion in Asia-Pacific and represents its 12th market in the region and 44th equity market worldwide.   The Taiwan Stock Exchange (TWSE) lists over 800 companies with a combined market capitalisation of USD879 billion1. Dominant sectors in this market include technology and industrials. The Taiwan Stock Exchange Weighted Index (TWSE:IND) has climbed more than ten per cent over the past three years.   “For
Private debt specialist Old Hill Partners has appointed former GE Capital executive Shila Ray as Financial Officer. Ray will be responsible for overall finance and fund accounting functions at the company and has been named to the firm's investment committee. Ray has over 20 years of experience in finance leadership roles. He served as CFO and in various global leadership positions for businesses within GE Capital. He has extensive experience in scaling up enterprises and has been instrumental in leading the finance function for various global and domestic operations. After GE Capital, Shila served as CFO of an alternative finance
Alternative asset management firm Evanston Capital Management has published a whitepaper analysing the return properties of smart beta strategies and how to adjust historical backtest results to inform prospective return assumptions. The white paper outlines foundational characteristics of smart beta strategies and the impact of data mining and arbitrage on historical backtests when calculating accurate forward-looking return estimates for such strategies. The key identifying assumption for the particular smart betas and time periods analysed is motivated by Nobel Laureate Eugene Fama’s famous 1991 Efficient Capital Markets survey paper (ie Efficient Capital Markets: II). Evanston Capital Management analysed both backtested and
Highland Capital Management Fund Advisors, the retail affiliate of Dallas-based investment management firm Highland Capital Management has added 14 independent broker-dealer (IBD) sales professionals in the fourth quarter of 2015 and the first quarter of 2016. Highland's IBD sales team represents a broad spectrum of products both from Highland Fund Advisors and from affiliates NexPoint Advisors, LP, NexPoint Capital, Inc. and NexPoint Real Estate Advisors, L.P. Products include non-traded business development companies (BDCs), REITs, mutual funds and ETFs. The firm also expects to roll out a series of interval funds later this year. "The diverse product offerings we have across
Argon Capital Management, a commodity multi-strategy alternative asset management firm founded in 2015, has appointed Jeffrey Halpern as Partner and Chief Risk Officer, and John Curran, Andrew Suckling and Pasha Bahadori as Partners and Senior Portfolio Managers.  They will be joined by newly appointed Portfolio Managers Hugo Picca, Glen Eisenberg and Andrew Greenberg.    With on average 20 years of experience across multiple market cycles at leading alternative investment firms, the new appointments reflect Argon’s culture of commitment to the highest standards of human capital and business practices. The highly experienced team is designed to achieve Argon’s goal of providing

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